Saturday Night Quarterback

Saturday Night Quarterback says, For the week ahead…

Saturday Night Quarterback says, For the week ahead…

Today’s vote to acquit former President Donald Trump on the impeachment charge will result in a flurry of budget activity from Democrats to push forward President Joe Biden’s $1.9 trillion coronavirus stimulus/relief package. House and Senate committees will pass budget bills this week to pave the way for votes under the reconciliation process in the Senate to pass the proposal into law on full House and Senate votes next week. Also expect the White House to move forward on its proposal for a $2 trillion infrastructure package that would follow quickly on the heels of the coronavirus package.

Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

This week brings fourth quarter earnings reports from Microsoft (MSFT) on Tuesday, and Apple (AAPL) and Facebook (FB) on Wednesday to add fuel to the Big Tech rally. The NASDAQ 100, the home of big tech stocks, climbed 4.4% last week. Apple is expected to report record fourth quarter earnings. And that will certainly help technology stocks in general. But I’d also count the diversity of the companies reporting this week on the positive side of the ledger.

Saturday Night Quarterback says, For the week ahead expect…

Saturday Night Quarterback says, For the week ahead expect…

Expect a week for positioning for the big news scheduled for next week and the week thereafter. The U.S. Food & Drug Administration’s vaccines advisory committee meets on December 8-10. Pfizer’s application for an emergency use authorization for its coronavirus vaccine is on the agenda. Since none of us has seen the data submitted to the FDA, we don’t know for sure, but Wall Street believes that the advisory committee will recommend approval of the vaccine. That could put the FDA on track to approving the vaccine within any where from a couple of days to a week or two. Various sources in the White House and at Pfizer have said that the vaccine could be on its way to American arms as soon as two days after approval. You can bet that a “Yes” from the advisory committee will move stocks–every bit of positive vaccine news has pushed stocks significantly higher over the last two weeks and there’s no reason to think that any positive FDA news would be any different. The Federal Reserve’s Open Market Committee meets on December 16